Grove Bank & Trust Decreases Stake in Shell plc (NYSE:SHEL)

Grove Bank & Trust reduced its position in Shell plc (NYSE:SHEL) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,512 shares of the energy company’s stock after selling 507 shares during the period. Grove Bank & Trust’s holdings in Shell were worth $157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHEL. FMR LLC raised its position in Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Empyrean Capital Partners LP purchased a new stake in Shell during the second quarter valued at approximately $151,578,000. Jennison Associates LLC raised its position in Shell by 188.0% during the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock valued at $198,786,000 after purchasing an additional 1,967,672 shares during the period. Holocene Advisors LP raised its position in Shell by 29.8% during the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after purchasing an additional 866,954 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in Shell during the third quarter valued at approximately $37,274,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Stock Performance

NYSE SHEL opened at $66.74 on Tuesday. The stock has a 50-day simple moving average of $64.19 and a two-hundred day simple moving average of $67.74. The firm has a market capitalization of $205.36 billion, a P/E ratio of 13.73, a PEG ratio of 5.60 and a beta of 0.55. Shell plc has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were paid a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.12%. Shell’s payout ratio is currently 56.58%.

Analyst Ratings Changes

Several brokerages recently issued reports on SHEL. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research note on Friday, October 11th. Wells Fargo & Company dropped their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Citigroup raised Shell to a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Shell presently has an average rating of “Buy” and a consensus price target of $79.69.

Shell Profile

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.